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Lithuania and the EU

Latest business news about Lithuania and the European Union.

Europe to invest EUR 10m in micro-enterprises in the Baltic States
The European Investment Fund and Noviti Finance signed a EUR 10m cooperation agreement Thursday to give micro-businesses in Latvia, Lithuania, Estonia better access to finance.

Baltic Energy Market Interconnection Plan
The primary objective of the Baltic Energy Market Interconnection Plan (BEMIP) initiative is to achieve an open and integrated regional electricity and gas market between EU countries in the Baltic Sea region, ending energy isolation. The initiative's members are the European Commission and Denmark, Germany, Estonia, Latvia, Lithuania, Poland, Finland, and Sweden. Norway participates as an observer.

Baltic states sign energy synchronisation agreement with EU
The heads of state or government of Lithuania, Latvia, Estonia and Poland signed a roadmap Thursday for synchronising the Baltic States' electricity grid with the continental European network by 2025.

Synchronisation of Baltic States' electricity networks with the continental European network (CEN)
On 28 June, European Commission President Jean-Claude Juncker signed, jointly with leaders of Lithuania, Latvia, Estonia and Poland a political Roadmap for synchronising the Baltic States' electricity grid with continental Europe.

Lithuania and the euro
Lithuania joined the European Union in 2004 and is currently preparing to adopt the euro.

Fifteenth report on practical preparations for the euro
It is only a few weeks to go until Lithuanians start using euros to pay for everyday transactions in their country. On 1 January 2015, Lithuania will become the 19th member of the euro area, which will then encompass all three Baltic States. On 21 November, the Commission adopted its fifteenth report on the practical preparations for the changeover, assessing the progress made up until the end of September 2014.

EUR 28m package for Baltic Milk Producers
The European Commission on 18 November confirmed its intention to adopt a EUR 28m support package for milk producers in Estonia, Latvia and Lithuania. This new package is the latest in a series adopted by the Commission in response to the Russian ban on the importation of certain EU agricultural products.

Lithuania: country overview
On 11 March 1990, Lithuania became the first of the Soviet republics to declare its independence, but Moscow did not recognize this proclamation until September of 1991 (following the abortive coup in Moscow). The last Russian troops withdrew in 1993. Lithuania subsequently restructured its economy for integration into Western European institutions; it joined both NATO and the EU in the spring of 2004. In January 2014, Lithuania assumed a non-permanent seat on the UN Security Council for the 2014-15 term; in January 2015, Lithuania joined the euro zone. The most important sectors of Lithuania's economy in 2015 were wholesale and retail trade, transport, accommodation and food services (32.5 %), industry (22.6 %) and public administration, defence, education, human health and social work activities (14.3 %). Lithuania's main export partners are Russia, Latvia and Poland while its main import partners are Russia, Germany and Poland.

Doing business in Luxembourg: Staff welfare
The Labour Code in Luxembourg covers employee rights regarding health and safety in the workplace, discrimination, recruitment, dismissal, and employment contracts.

Doing business in Lithuania: Environmental rules
Legislation in Lithuania has set out environmental rules that businesses have to follow in order to be able to operate.

Doing business in Lithuania: Staff welfare
This guide outlines the major social rules on staff welfare in Lithuania.

Doing business in Lithuania: Sustainability
Several legal acts in Lithuania regulate sustainable development. However, businesses can voluntariliy choose whether to undertake corporate social initiatives.

EU Financial assistance for the decommissioning of nuclear plants in Bulgaria, Lithuania and Slovakia: Achievements and Future Challenges - ECA Special Report No 16/2011
In the framework of the EU accession negotiations, Bulgaria, Lithuania and Slovakia committed to the early closure and decommissioning of eight nuclear reactors, thus facing a significant production capacity loss. The Court assessed the effectiveness of the EU financial assistance (2 850 million euro up to now) in supporting recipient countries’ efforts to decommission their closed nuclear reactors and to address the consequences of the early closure. The Court found that progress has been slow, no comprehensive assessment of future needs exists, and available funding is plainly insufficient. The Court recommended making conditional any further support upon an evaluation of the EU added value.

Tax Facts & Figures 2010
The PricewaterhouseCoopers guide "Tax Facts & Figures 2010 Lithuania" provides information about doing business in Lithuania, social security, taxes, accounting, etc.

Illegal cigarette factory in Lithuania raided
An illegal cigarette factory in Vilnius, capable of producing at least 1000 cigarettes a minute, has been raided and closed down in an operation mounted by Lithuanian Customs supported by OLAF.

Lithuania withdraws proposed regulation on telecoms
On 16 March 2010 the Lithuanian Authority, Ryšių reguliavimo tarnyba (RRT), informed the European Commission that it was withdrawing its proposed measure on network infrastructure access markets. The Commission had earlier this month raised serious doubts about the compatibility of the proposed regulation with the principles of EU competition law.

Representation of the European Commission in Lithuania
Contacts of the European Commission representation in Lithuania.

Access to finance
The Law on Small and Medium Size Business Development of the Republic of Lithuania that came into force on 1 January 2008 defines the types of small and medium size businesses, the forms of state aid available to them and other important relevant provisions.

Setting up a business in Lithuania
An overview of the process of starting a new business in Lithuania.

Lithuania and the euro
Lithuania joined the European Union in 2004 and is currently preparing to adopt the euro.

Eurostat yearbook 2006-07
Europe in figures — Eurostat yearbook 2006-07 — presents a comprehensive selection of statistical data on the European Union, its Member States and candidate countries. Most data cover the period 1995–2005 and some data include other countries such as the USA and Japan. With almost 400 statistical tables, graphs and maps, the yearbook treats areas such as population, education, health, living conditions and welfare, the labour market, the economy, international trade, industry and services, science and technology, the environment, agriculture, forestry and fisheries, and European regions. This edition’s spotlight chapter deals with energy statistics.

Lithuania country profile
Lithuania is the southernmost of the three Baltic states – and the largest and most populous of them. Lithuania became a member state of the European Union on 1 May 2004.

Lithuania business
Lithuania business web links - Business Patrol

Lithuania importers/exporters
Lithuanian exporters, importers, producers, services and business information

International Tax Guide Lithuania (Deloitte)
The Taxation and Investment Guides are a first stop for investors wishing to gain a working perspective on the operating conditions and investment climate – including the legal, accounting and taxation framework – in the countries covered in the Deloitte International Tax Source. In addition to the Lithuania Highlights and Taxation and Investment Guide, above, country links open the door to the Deloitte International Tax Source and a wide range of materials and information on the tax consequences of doing business across borders.

Business Environment - Lithuania
Snapshot of the business environment for the Lithuanian economy from the World Bank